Glenn,re:"Our economy...Amazon". There is nothing wrong
with the economy. AG said there's plenty of liquidity
in the market. Even Amazon has 'Operating cash' in excess
of Billion (Still ?).
Check the networth of the CxO's and you see there is
absolutely no shortage of liquidity.
Check Henry Bodget's networth if you need more evidence.
Check Cohen's networth (sorry I forget the first name,she
work(or worked) for Goodman Sack).
Check A-rod's networth ( I don't know who this guy works
for ).
If you guys think AG is a dumb fool, watch out.
Do you know over the last couple of years:
o anyone who can type using a computer was 'a programmer' <ggg>? (There were schools for doing just that)
o anyone who can standup was a 'checkout cashier'? (try
not to intervene if there is any minor problem, you may
not have the language skill to explain to the person,
never mind explaining the 'reason' why the person was
wrong. My wife gave up and just called the manager. !!!)
o There were companies (especially the big one) that could
not have enough people to hire while at the same time,
there are (same co.) people who had 'Nothing to do'?
o Layoff is always painful to the needy (then again WS
always 'celebrate' on layoff news, so it must be a good
sign for the economy).
o Just check Yahoo, est. of AMZN profit of 0.03 to 0.08
at Dec,2002(?). A PE of 100 would be $3 to $8.
Reiterate: AMZN is a single digit stock no matter how it
gets there.
Only surprise I see is: Amzn becomes a 'e-software company'.
I believe Jeff was quoted as a 'programmer, software
developer' somewhere. Then with the help of friends and
the know-how, SKY is the limit.
If it stays in 'e-tailing' and tries to 'make profit' the
old fashion way, then kiss your MONEY good-bye unless you
are happy with the return of a 'normal company'.
BTW: Amazon would(may) like to thank all of those who
contributed voluntarily on the build-out of the company.
With a 'new beginning', a new name for the company would
be appropriate. Anyone? |
